June 29, 2015

Market outlook

- markets open gap down below support and form first day of lower low lower high
- in an uptrend, upto 2-3 days of lower low lower high bars is normal
- we have immediate support near 8200 levels.
- note markets are increasingly rangebound and are roughly where they were 2 months ago.
- weekly trend is still down
- option writing points to support at 7900 and resistance at 8500. Highest OI is at 7900 put.